Daily Nambling Notes - July 1, 2002

1 July 2002

Congratulations -- The co-founders of P2P site Betfair were recently co-recipients of the Ernst and Young Emerging Entrepreneur of the Year award for the London region. Andrew Black and Edward Wray were given the award for their success in growing their business, which is projected to turn over £1.6 billion in fiscal 2002. Since its first day of operation in June 2000, the company has had monthly compound growth of 25 percent. "We are delighted by this award which recognizes the value that customers place on Betfair," Wray said. "We offer a new and exciting way to bet and are revolutionizing betting in this country."

Names and Faces -- Michael Aymong has resigned his post as president, CEO and interim chairman of the board of directors of World Gaming. Aymong resigned one day before the software supplier's annual shareholders meeting on June 20. Jim Mckay, who in May joined the company as a "special advisor," will take over as president and CEO.

Legal Stuff -- Jay Cohen, whose conviction on charges relating to Internet gambling was held up by the Supreme Court two weeks ago when the court refused to allow him to appeal his case, has not received a surrender date to report to prison yet, one of his lawyers said today. Melinda Sarafa, of the firm Brafman and Ross, said she and Cohen's other lawyers are exploring possible post-conviction remedies--issues that could have been raised on Cohen's behalf that haven't been so far.

World Cupdate -- Austrian betting site betandwin.com said today that during the World Cup about 4,000 of its customers have been using its new feature that allows for live betting in real time. The company said the service updates odds in real time, eliminating the need for bettors to refresh the Web page. The service will still be in use for other sports, such as tennis and American football, after the World Cup ends.

New Stuff -- Two Boss Media licensees launched online casinos today--Victor Chandler Casino and SuperVegas Casino. The Victor Chandler Group debuted its first online casino, The Spin Room, in 2000 and opened its second, victorcasino.com, in 2001. The casino it launched today is called victorchandlercasino.com. The company plans to launch 12 new gaming products by the end of this year. SuperVegas Casino is operated by Sportingbet.com, the online and telephone sports betting giant. SuperVegas Casino will be integrated with Sportingbet's system so that players can use the same username and password for both sports wagering and casino gambling. Camelot, operator of the U.K. National Lottery, is preparing its new interactive digital TV channel. The iTV site is part of the company's marketing effort to re-brand the lottery as "Lotto." The site will feature the latest drawings and will allow players to search for their numbers, learn about the lottery's games or how to be a contestant on the lottery show "In it To Win It." Camelot said it hopes to launch the site as soon as possible.

Tidbit from Down Under -- Tattslotto, the lottery of Tattersall's, had its 30th anniversary last week. The lottery, which was the first lottery in Australia, has given away more than AU $30 billion in prizes during the past three decades. When it began in 1972, the top prize was AU $50,000.

Anne Lindner can be reached at anne@rivercitygroup.com.